Tuesday 13 June 2017

Rates for Tax Deduction at Source(TDS) for FY 2017-18 (A person other than a company)

Rates for tax deduction at source-In the case of a person other than a company
[As amended by Finance Act, 2017]
[For Assessment year 2018-19 & Fy 2017-18]

Particulars TDS Rates (in %)

 where the person is resident in India-
Section 192: Payment of salary Normal Slab Rate
Section 192A: Payment of accumulated balance of provident fund which is taxable in the hands of an employee. 10
Section 193: Interest on securities 10
Section 194: Dividend other than the dividend as referred to in Section 115-O 10
Section 194A: Income by way of interest other than "Interest on securities" 10
Section 194B: Income by way of winnings from lotteries, crossword puzzles, card games and other games of any sort 30
Section 194BB: Income by way of winnings from horse races 30
Section 194C: Payment to contractor/sub-contractor
a) HUF/Individuals 1
b) Others 2
Section 194D: Insurance commission 5
Section 194DA: Payment in respect of life insurance policy 1
Section 194H: Commission or brokerage 5
Section 194-I: Rent
a) Plant & Machinery 2
b) Land or building or furniture or fitting 10
Section 194-IA: Payment on transfer of certain immovable property other than agricultural land 1
Note: This provision is applicable from June 1, 2017
Section 194J: Any sum paid by way of
a)  Fee for professional services, 10
b)  Fee for technical services
c)  Royalty,
d)  Remuneration/fee/commission to a director or
e)  For not carrying out any activity in relation to any business
f)  For not sharing any know-how, patent, copyright etc.
Note: With effect from June 1, 2017 the rate of TDS would be 2% in case of payee engaged in business of operation of call center.
Any Other Income 10

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